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With effective government policies, Reserve Bank's accommodative policy stance and improved business sentiments, industry body -- the PHD Chamber of Commerce and Industry (PHDCCI) has said that the Indian economy is poised to achieve 10.25 per cent GDP growth in FY 2021-22.

The chamber added the declining new coronavirus cases accelerated vaccination drive, improved consumer and business confidence, anticipated high demand amid the upcoming festive season, among others, will further enhance the pace of economic recovery in the coming months. However, it highlighted the need to address the high commodity prices and shortages of raw materials to support the consumption and private investments in the country.

PHDCCI said 'the drivers of household consumption needs to be further strengthened to enhance the aggregate demand as it will have an accelerated effect on the expansion of capital investments’. It urged the Centre to frontload the National Infrastructure Pipeline expenditure arguing that increased spending on infrastructure will give a multiplier effect to rejuvenate the aggregate demand in the economy.